Rise of the 'HOMADs' (children who holiday with mum and dad)

More than half of Britons in their twenties are considering going away with their parents this year in a bid to save money.

According to new research, 52 per cent of twenty-somethings are thinking about holidaying with mum and dad, with 14 per cent of those saying they had already booked a trip.

Holiday fun: Adult families may be holidaying together more

And while 17 per cent claim they are going out of nostalgia, 30 per cent admit they are enticed by the fact that their parents will pay.

This new generation of young cash-strapped holidaymakers have been dubbed 'HOMADs' - because they 'Holiday on Mum and Dad'.

The survey, carried out by holiday home website Holiday-Rentals.co.uk, revealed that 75 per cent of respondents were hedging their bets that their parents would contribute something to the break, while 18 per cent of those said mum and dad would pick up the tab for the whole bill.

Almost 77 per cent said they would pay for food and drink while on the trip.

And in a sign of how desperate people are to get away in the recession, 64 per cent of respondents said they would go away with family who offered to pay, even if they couldn’t bear their company.

Holiday-Rentals.co.uk Managing Director Courtney Wylie said: ‘As young people suffer in the credit crunch, more twenty-somethings than ever are choosing to go on holiday with their folks.

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‘Holiday costs can soon add up, but children – of all ages – shouldn’t be embarrassed by turning to their parents for financial help.

‘Going away as a larger group can really help to keep the costs down and holidaying with your parents can even help you recreate the fun trips you had as a child.'

The research also revealed that 55 per cent of Britons are thinking about taking a break with extended family - 15 per cent because they could get a free babysitting service and two thirds because they wanted to spend quality time with relatives.